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The Points scheme explained

 

How do I earn the points

Points will be awarded for activities completed on the site. The table below sets out the initial points awarded for each activity. Please note we may add categories from time to time and also change the amount of points awarded.

In addition, we will be monitoring activity on networks that you create and may from time to time issue bonuses to you as an owner, or the whole network for being very active.

How many points do I need to earn to qualify to apply for shares?

To Qualify we will require that you earn 5,000 points to apply for an allocation of 100 shares. These shares will be given on the basis that the applicant is providing co-ordinating skill and know how within a social networking context.

We will be tracking the level of points being accrued. Once we have noticed that a participant has gone over the magic number then we will carry out a due diligence on your activities. Once this is completed successfully we will send you an application form for the shares.

Due diligence on member activities before awarding shares

Please note that a shareholding will increase in value once the value of the overall solution grows. In our case this will happen when the registrations and activities of the registered people are commensurate with the objectives of the company and are not abused. We implore you to grow you point’s purse in an ethical way. However, we will check and may need to fine you points for any observed abuses.

When assessing a participant for shares we will:

1. Check that they have not carried out repeat non productive activities
2. Created fictitious accounts/members

Remember it is vital to behave in an ethical way as the value of your shares will be affected by non-ethical activities.

Once shares have been allocated then we will reduce the points on your account and notify you of your success

What happens when we have not met the quota on shares for the first campaign

Firstly, be assured that your points will be carried forward if you have not been successful in qualifying for shares in the first campaign.

As this is a unique process we will need some time after the campaign to absorb the lessons of the first campaign and to devise the second campaign. It is critical that we award shares to people who add value to the site and will continue to do so. So, any further campaigns will require tweaking and some more research.

Be assured that we intend to complete the campaigns but the nature will have to change as the site develops. For example, when we go to a second campaign there will be 96 new shareholders in existence. We will want to continue to offer them incentives to add value, but the nature in which we allocate points to them may have to change.

What happens to new points if I have been awarded shares

You will continue to accumulate points at the going rate published on the site. You can qualify for a second lot if you achieve the next points target. Should the campaign end when you have not achieved an additional quote then the process is as per the section above.

The Share scheme explained

Background

We have observed the development of the Social Networking solutions over the last 10 years, starting with School reunion sites and moving much more into sophisticated Social networking solutions in recent years.

All of the successful websites have made vast fortunes for the individuals who started them up. But, none of them have shared this wealth in a meaningful way with the people who have been the bulwark in the dramatic increases in the number of people registering and participating in the services of the website.

What is the profile of people that will benefit from this scheme

So some people are participants on the service but other people drive the use of the service through significant efforts on their own behalf.

We would like to reward one of these classes of people for their efforts and incentivise the other group to develop a larger presence on the site.

The overall objective is to create a vibrant networking site that is the first choice of individuals and groups to use. The incentive scheme will act in a twofold manner which is to create loyal participants and to reward them for their efforts.

What will the benefits be for us at Parlus

Eworx Limited is a private limited company that owns www.schoolfriends.ie and www.parlus.com its software and its databases including images and text.

Eworx Limited is a small Irish owned company, our objective with this project is:

1. To develop a social networking community that rivals the best in the world
2. To be the website of choice for business and social networking website for the ‘Irish Diaspora’ and much more
3. To create a body of additional shareholders who are advocates of this site and who will participate in the future development of our solutions
4. To create wealth for ourselves and our advocate shareholders

The benefits of this approach are very clear to us:

1. We will attract participants to this site who are committed to the development of online networking solutions;
2. We will garner through our rewards process participants who will make a real contribution over and above mere usage of the site;
3. We will achieve something no other operation will have achieved;
4. Our site will differentiate itself from the herd of sites in existence or emerging.

Amount of shares available and number of campaigns

Eworx Limited or the directors of Eworx will set aside 16% of the shares in issue of Eworx for member schemes. These schemes will be delivered in a minimum of 5 separate campaigns in a minimum of 2 years.

The shares on offer will have the same financial rights as shares held by the directors but will have no voting rights. We, the directors need to reserve the voting rights to ensure smooth running of the covenant. We the directors solemnly commit to share the financial gains of the sale of Eworx on an equal basis on any class of share issued.

There will be 10 million shares in issue. Of which a maximum of 1,600,000 can be allocated to member shareholdings and these will be called ‘Advocate Shares’. Once these shares are issued then the points/share schemes for the issuance of new shares will cease.

The first campaign (this campaign)

As this is a unique offering we need to ensure that we manage the process very carefully. In addition we are a private limited company and therefore cannot exceed 99 shareholder without having to change status to a PLC.

Therefore the initial campaign is to attract up to 96 new shareholders (as we already have 3 shareholders). It is our commitment to our members that we will issue the remainder of the allocated shares in membership schemes.

Learning from the first campaign

We believe that if we have managed to attract 96 new shareholders that we will be in a very positive position. While devising the second campaign (and further campaigns) and the future developments we will elicit the views of the shareholders and all our members.

We will change the membership share scheme and points system to direct the energies of our members in developing this social network to create the maximum benefit of all.

Planning for the future

We believe that the wealth of our website is not just the amount of money that a prospective buyer will pay for us but the way in which we can develop the future of the site with the membership. As time progresses we will rely more heavily on the ideas and views of the membership. However, we will still reserve the right to make the decisions though these will be very well informed by the membership.

Ethical behaviour on Parlus.com

We want to be clear about ethical issues. We want to create a social enterprise, where we can rely on the network we build up.

To be entitled of share, you need to grow your point’s purse in an ethical way. We will be constantly monitoring the website and in case we notice any misbehaviour we may need to fine you points for any observed abuses - you are not allowed to carried out repeat non productive activities, and to create fictitious accounts/members.

Remember it is vital to behave in an ethical way as the value of your shares will be affected by non-ethical activities.

Selling my shares

Eworx is using the share ownership scheme to help develop the business for the benefit of all. We therefore will have an embargo on the sale of the issues shares for 2 years from the date of issue.

We are in the process of refining the terms and conditions for shareholders and will make these available to members once completed.

Need more information?

Curious to find out more about the "Point scheme and/or the share scheme"? then get in contact with the Shareholder Guru!

He is already on Parlus.com and he is here to answer all your questions about the scheme points

How can you find the Guru?

Simply go to his profile: http://www.parlus.com/Shareholderguru

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